European shares rise, Asian stocks fall as investors await US stimulus
- 26 Jan 2021
Gulf Today Report
European shares advanced on Tuesday as UBS recorded an increase in net profit but gains were curbed due to lockdown and US stimulus measures.
The pan-European STOXX 600 index rose 0.2% after closing at more than two-week low in the previous session.
UBS, the Swiss wealth manager recorded a 137% rise in net profit.
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Asian stock
Asian stocks declined due to concerns about the potential obstacle to the Biden administration’s $1.9 trillion stimulus package.
South Korea and Hong Kong topped losers and fell more than 2% each, Japan slipped 0.9% and Chinese stocks shed 1.6%. MSCI's broadest index of Asia-Pacific shares outside Japan shed 1.5% to 717.3.
Vasu Menon, senior investment strategist at OCBC Bank Wealth Management said: "there have been some warning bells from different parts of the world as we've seen more lockdowns in Europe, US and Asia."